NIBA / Special Feature
MEASURING TECH OUTCOMES
AS MUCH AS THE PROSPECT OF INVESTING IN THE FUTURE MAY APPEAL, YOU NEED SOME TANGIBLE BUSINESS OUTCOMES IN THE HERE AND NOW TOO. David Leach of JAVLN says there are a number of markers you can use to assess the
impact of technology on a broker’s business. “You'd measure a number of things, including client satisfaction – get clients to fill in an online survey and give feedback. “You can also measure renewal rate policy, their gross written premium, number of new clients, their income growth, and so on. “If you have a well defined five to seven metrics, a baseline in place, and measure before and after, you should see measurable results that keep going up and up if the right technology is being used properly.”
“Across the corporate segment in Australia, there’s been substantial tech spend on core platform replacements, although not all of it has translated into execution and delivery,” he says. “What hasn’t transpired yet is the ultimate execution capability, and what that can actually deliver – particularly to the broker sector. Agencies, however, have really started to push through with software for claims and other digital offerings for brokers.” Using Tech to Better Understand Risks – and Customer Service Elsewhere in this issue, we explore the long-term sustainability of the insurance industry and how technology is becoming an increasingly fundamental part of that value chain, from equipping brokers with smarter tools to helping underwriters better understand risk.
Cyber insurance, to some extent, has a foot in both camps, sitting at the cutting edge of tech while insuring the risks involved in that world, too. Rob Collyer, Underwriting Development Manager at Nova Underwriting, says: “We utilise an AI-powered cyber risk analytics platform designed to help our insureds proactively manage and mitigate cyber threats. “By integrating data from various sources, it provides a comprehensive view of an insured’s cyber risk profile, enabling informed decision-making, risk rating, and effective risk management strategies. By leveraging advanced scanning and collection techniques, similar to those used by threat actors, we can assess an insured’s risk profile and pinpoint any areas we require the insured to address before beginning cover.” Of course, increasing that value proposition for brokers and clients is a key element of technology’s effect, and
Blue Zebra’s ongoing technical evolution has had learnings along the way. A new addition to Blue Zebra’s internal tech stack – and a rare external addition – is Microsoft’s Contact Centre, which has AI at its core. Roomi says the company has invested heavily in customer service, and that using Contact Centre has already improved several key metrics. “Simply by leveraging some of the toolkits, we were able to change the broker experience so it's more seamless for them in terms of being able to contact us. Behind the scenes, we've reduced the friction that any system has in terms of transferring a query from one person to another. “In contact and service centres , there’s a lot of repetition, and now these tools are available to assist in managing this. The Contact Centre solution has been integrated with our own platform to access schedules and policy wordings and help
40 / INSURANCE ADVISER AUGUST/SEPTEMBER 2025
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